Canadian Importers May Now Seek Import Duty Refunds

20.10.2015 20:19

As of 2015, Canadian importers may now seek refunds of customs duties in cases where transfer prices are adjusted downward after importation if the adjusted prices paid or payable were the subject of an agreement in writing at or prior to importation.

According to Bennett Jones: "The introduction of the new Canada Border Services Agency policy (CBSA) may lead Canadian importers to conclude that refunds of overpaid customs duties will be automatic. Rather this is no so".

TC North America in Toronto therefore advises Danish multinationals to study the new Canadian import refund rules in depth. To read the entire CBSA Customs Notice 15-001 please click here